An indirect IRA rollover occurs when you request the trustee of your IRA to send the funds you want to rollover directly to you, with the intention that you’ll reinvest them on your own into a new IRA through rollover. The problem with this rollover is that there’s a very real possibility that you’ll inadvertently change the tax burden on the money you’re moving, negating the IRA tax benefits for which you set up the IRA account at the first place. (more…)
Posts Tagged ‘Roth IRA Rollover’
Will You Be Charged IRA Rollover Tax on Your Account Transfer?
Posted by admin on April 20th, 2010
When it comes to taxes, most people want to pay as little as possible by rolling over to another account. Failing that, they’d like to postpone paying taxes as long as possible. For this reason, most of people rollover to Individual Retirement Accounts (IRAs) for their retirement investing needs. (more…)
IRA Rollover Tax Changes – What You Need to Know in 2010
Posted by admin on April 15th, 2010
Of all the IRA rollover tax changes for 2010, the most important ones concern the Roth IRA – one of the more restrictive types of IRA rollover that includes move money into and out of. To gain a better understanding of the 2010 IRA rollover tax changes, you’ll first need to know how a Roth IRA is defined and how it interacts with other types of IRAs. (more…)